Rising Demand for Robust Commercial Vehicles Spurs Innovation in Heavy-Duty Truck Suspension Systems Worldwide
Global Heavy-Duty Truck Suspension System Market to Reach $14.2 Billion by 2030, Fueled by Logistics and E-Commerce Growth
DUBLIN, IE / ACCESSWIRE / December 12, 2024 /The "Heavy-Duty Truck Suspension System - Global Strategic Business Report" has been added to ResearchAndMarkets.com 's offering.
The global market for Heavy-Duty Truck Suspension System is estimated at US$12.2 Billion in 2023 and is projected to reach US$14.2 Billion by 2030, growing at a CAGR of 2.3% from 2023 to 2030.
The growth in the heavy-duty truck suspension system market is driven by several factors. The increasing demand for commercial vehicles, fueled by the expansion of logistics and e-commerce industries, necessitates robust and reliable suspension systems to handle higher loads and longer distances.
Technological advancements, particularly in materials science and electronic control systems, have led to the development of more efficient and durable suspension components. The emphasis on improving fuel efficiency and reducing emissions has also spurred innovation, as advanced suspension systems can contribute to better aerodynamics and reduced rolling resistance. Additionally, the rising focus on driver safety and comfort has led to the adoption of advanced suspension technologies that mitigate the physical strain of long-haul driving.
Economic growth in emerging markets, coupled with government regulations on vehicle safety and emissions, further propels the demand for state-of-the-art suspension systems. These factors collectively ensure a robust growth trajectory for the heavy-duty truck suspension system market, reflecting ongoing advancements and the increasing need for efficient, reliable, and comfortable commercial vehicles.
Key Insights:
Market Growth: Understand the significant growth trajectory of the Class 8 Vehicles Suspension System segment, which is expected to reach US$10 Billion by 2030 with a CAGR of a 2.5%. The Class 7 Vehicles Suspension System segment is also set to grow at 1.9% CAGR over the analysis period.
Regional Analysis: Gain insights into the U.S. market, estimated at $3.3 Billion in 2023, and China, forecasted to grow at an impressive 4.1% CAGR to reach $2.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
Detailed Market Analysis: Access a thorough analysis of the Global Heavy-Duty Truck Suspension System Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Heavy-Duty Truck Suspension System Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
How is the Global Heavy-Duty Truck Suspension System Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?
Report Features:
Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players such as ContiTech Deutschland, Cummins, Emco Industries and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 44 Featured):
ContiTech Deutschland
Cummins
Emco Industries
Hendrickson USA
Jamna Auto Industries
JOST Werke
Link Manufacturing
Michigan Truck Spring of Saginaw
NHK Spring Co.
RoadActive Suspension
SAF-HOLLAND
Simard Suspensions
Sogefi
V.S.E. Vehicle Systems Engineering
ZF Friedrichshafen
Key Attributes:
Report Attribute | Details |
No. of Pages | 275 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $12.2 Billion |
Forecasted Market Value (USD) by 2030 | $14.2 Billion |
Compound Annual Growth Rate | 2.3% |
Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
World Market Trajectories
Heavy-Duty Truck Suspension System - Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
Advances in Suspension Technology Drive Market Growth
Increasing Demand for Heavy-Duty Trucks in Logistics and Transportation Expands Market
Stringent Vehicle Safety Regulations Propel Adoption of Advanced Suspension Systems
Rising Focus on Driver Comfort and Safety Strengthens Business Case for Innovative Suspensions
Growth in the Construction and Mining Industries Spurs Demand
Integration of Smart Suspension Systems Generates Market Opportunities
Increasing Adoption of Air Suspension in Heavy-Duty Trucks Expands Addressable Market
Technological Innovations in Shock Absorbers Propel Market Trends
Development of Lightweight and Durable Suspension Components Sustains Market Growth
Rising Number of Infrastructure Projects Accelerates Demand for Heavy-Duty Trucks
Adoption of Electric and Hybrid Trucks Generates Demand for Advanced Suspension Systems
Expansion of Aftermarket Services Propels Market Growth
GLOBAL MARKET PERSPECTIVE
FOCUS ON SELECT PLAYERS
ContiTech Deutschland
Cummins
Emco Industries
Hendrickson USA
Jamna Auto Industries
JOST Werke
Link Manufacturing
Michigan Truck Spring of Saginaw
NHK Spring Co.
RoadActive Suspension
SAF-HOLLAND
Simard Suspensions
Sogefi
V.S.E. Vehicle Systems Engineering
ZF Friedrichshafen
For more information about this report visit https://www.researchandmarkets.com/r/ac6p2y
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SOURCE: Research and Markets
SOURCE: Research and Markets
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